The World Bank has announced a major funding commitment of US$490 million to support Liberia’s national development goals under the government’s ARREST Agenda, through a new Country Partnership Framework (CPF).
The CPF, expected to be submitted to the World Bank Board for approval at the end of this month, will prioritize key sectors including energy, education, agribusiness, and digital transformation. A major focus of the initiative is to increase Liberia’s energy access from the current 33% to 75%, which is projected to significantly reduce electricity costs and improve nationwide access.
The funding pledge was made by World Bank Vice President Ousmane Diagana during a high-level meeting with the Liberian delegation led by Finance and Development Planning Minister Augustine Kpehe Ngafuan, on the sidelines of the IMF/World Bank Spring Meetings.
As part of Liberia’s broader diplomatic and financial outreach, Minister Ngafuan also met with Sultan Al-Marshad, CEO of the Saudi Fund for Development, in a follow-up to recent engagements in Kuwait.
During the meeting, the Saudi Fund expressed its commitment to co-finance the Salayea–Voinjama segment of the Gbarnga–Mendikorma Road Project, alongside the Kuwaiti Fund and other Arab development partners.
In a separate development, Minister Ngafuan was unanimously elected Chairperson of the Standing Committee of the Board of Governors of the African Development Bank (AfDB) on Conditions of Service for Elected Officers. His term will run from 2025 to 2026, with Liberia serving alongside Gabon, Korea, Ireland, and Guinea-Bissau on the committee.
These developments signal growing international confidence in Liberia’s reform agenda and efforts to drive sustainable development and regional integration.
Credit: MFDP
